PhonePe Insurance CEO Vishal Gupta steps down to start new venture
06 Jul 2026, 05:51 PMEarlier this year, PhonePe's Share.Market and wealth business head Ujjwal Jain stepped down after four years with the company.
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Vishal Gupta, the CEO of PhonePe Insurance Broking Services, has stepped down from his role and is preparing to launch his own venture.
"I am signing off from my role at PhonePe," said Gupta in a LinkedIn post, "I am heading back to what I have loved most across all my stints: building from scratch, solving hard problems, finding PMF, and earning the right to scale," he added.
Gupta joined PhonePe in 2016 as Vice President and played a key role in areas including product development, user experience, risk management, and customer service. He was elevated to CEO of PhonePe’s insurance broking arm in November 2023, where he oversaw the company’s insurance distribution operations.
Previously, he also worked at payments company Pine Labs and e-commerce firm Flipkart.
His departure marks another senior-level exit at the Walmart-backed fintech firm. Earlier this year, Share.Market and wealth business head Ujjwal Jain stepped down after four years with the company. Shortly afterward, Akash Dongre, cofounder of Indus Appstore, also left PhonePe following a long tenure.
PhonePe entered the insurance distribution segment after obtaining an insurance broking licence in 2021. Since then, it has facilitated the sale of nearly 18.5 million insurance policies through September 2025.
Beyond its core payments business, PhonePe has expanded into lending, insurance, wealth management, and other financial services. The platform had crossed 700 million registered users by April 2026.
In March, PhonePe decided to defer its initial public offering (IPO) plans citing geopolitical conditions after filing updated draft red herring prospectus (UDRHP) with the markets regulator Securities and Exchange Board of India (SEBI) in January.
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